I know I'm a pain but can someone please do the maths for me?

Teacher2301

Hi there pnq06,

Just read through all the posts - looked at your SOA - how much to you earn? that is not listed - if you don't earn anything surely you have some kind of benefit - what about child benefit etc?

How long have you got left with sky, tesco's and orange? I changed my sky package after 3 months to the cheapest when we had it - now we don't though!

Do you have any payment protection on your loans and do you need it? If not cancel and ask for a refund - see Martins email about this from todays email I think.

Can you switch to A&L? They matched my overdraft but that was £1500 but it is 0% for 12 months

bananakinz

Electric seems a bit high?

When is baby due? as you will then receive child benefit.
Also phone the tax credits and find out how much you would be entitled to once baby is here, even though you have had an overpayment, this may reduce the amount you get. Are you entitled to any maternity pay or grant?

pnq06

When you put it like that albertross :eek: maybe I should of said that it also requires 3 months notice to quit but I suppose I can chew his ear off about it later

My partner needs the net for work purposes- he works for his parents business (I know your probably thinking why isn't he paid a little more but the csa is basically the answer) and needs to download files etc.

Hi Teacher- I'm not earning anything at the mo- we were entitled to tax credits but they've overpaid us so it comes out of our current award :rolleyes:

Pretty much got 6 months left with everything as we signed up everything when we moved in.

We do have payment protection on our current loan and although I don't think its necessary my partner does- he see's it as his parents small business can go bust and he'll be out of work.... However, it probably doesn't need to be as expensive as £2455.71 on the original loan amount of £17,990.28 Where do I start if I want to get it cheaper? Are there special loans for it?

pnq06

The electric is high because it is in arrears but I emailed them today cos the payments are crippling- they originally wanted £112.00 pm :eek: but I managed to get them to take pity after realising it was more then double the £50 I was paying a month... So they've settled at £88 which is still way to high when I've offered to make token payments when we've got a bit of spare cash :rolleyes:

Thanks for the link albertross- unfortunately I know nothing about internet related stuff so I'll have to pass the details onto my partner.

:A

dancingfairy

How much is the arrears on the electricity?What is the apr on the laon and also on the overdraft over 500 ?Also when's the baby due?Anything to ebay/car boot etc.I don't know when the baby's due/when the electric will be paid off / the tax credits will be sorted etc but if you can get through the next couple of months without adding to the debt it sounds as if things might get a bit easier- especially when you can change all the phones/internet- that'll really help.Can you do any mystery shopping etc to get a bit of spare money?

pnq06

dancingfairy wrote: »

How much is the arrears on the electricity?What is the apr on the laon and also on the overdraft over 500 ?Also when's the baby due?Anything to ebay/car boot etc.I don't know when the baby's due/when the electric will be paid off / the tax credits will be sorted etc but if you can get through the next couple of months without adding to the debt it sounds as if things might get a bit easier- especially when you can change all the phones/internet- that'll really help.Can you do any mystery shopping etc to get a bit of spare money?

The arp on the loan is 7.9% so its already very good from what I understand . I'm waiting on the bank to phone me back as I made a complaint earlier about the woman who tried to sell me the account where the first £500 would be interest free (she failed to tell me that after 3 months the charge would increase to £25 instead of £15) it doesn't sound like an option now to be honest. The overdraft apr itself is something extortionate like 17% but I can't remember where I found the info before so I'll have to get back to you on that one.

Baby's due middle of October so I know as soon as we get to then money will get a bit easier cos csa payments will go down and we'll get CB and then soon after we'll be able to cancel things that we're tied in contract with. I have currently got 29 things listed on ebay and got more to add so hopefully a little extra help there and I also do valued opinions and those survey sites but not getting anywhere fast! Sites like quidco don't benefit me as I've not got the money to spend anyway! Whats mystery shopping? Is it internet based or do you go out and do it?

Thanks xx

pnq06

Just spoke to nationwide who will increase our existing loan by £3000 for an extra £7 a month which is less than the overdraft charges Sounds great!!!

However, they have given me an ultimatum-

If we increase the loan then we lose our right to the insurance

If we leave the loan as it is then we are covered by the insurance

If we take out a new loan with them (at £54 pm :eek: not an option) then we are insured

I've been left a little confused and the woman on the phone didn't really know either as to whats with the insurance

Any ideas?

pnq06

Cheeky little bump

pandapaws

Hiya!

They're not really making sense there, or is it just me?

Can they not just give you a new loan for the full amount you already owe them, and add the extra 3,000 onto it, and give you the repayment figures both with and without insurance over different terms? Normally wouldn't recommend extending the period of a loan or adding an overdraft onto one, but in your case, it could potentially help a lot as your income is so tight, as long as you didn't get any more debt and made it priority to pay off!

I'd ring them back and tell them you didn't fully understand the quotes and see what they say. Perhaps they meant that it would only be £7 extra because the difference is absorbed by the money you wouldn't be paying for the insurance any longer???

Good luck!

pandapaws

P.S. Congratulations on the pregnancy and best of luck with the baby in October - guessing it is your first because you have no mention of existing child benefit etc. Nothing will make you focus on debt and getting sorted out as much as having a baby around, just don't do what I did and get into all sorts of debt just beause you see things for the baby that you like even if you can't afford them!!!

GOOD LUCK!!!